Elering’s Financial Results for the Fourth Quarter

In the fourth quarter 2011 Elering's total revenue was 27,8 million euros, operating profit 11,8 million euros and net profit 9,9 million euros.

Compared with the fourth quarter in 2010 the financial results have improved – although the revenue decreased by 2,5 million euros, the cost decreased even by 2,8 million euros, resulting in the growth of net profit by 0,3 million euros.

In the fourth quarter 2011 a significant increase in the investment activity occurred – cash flow for purchasing fixed assets reached 25,1 million euros, in the fourth quarter 2010 it was 7,8 million euros.

Elering’s CFO Peep Soone said that the unusually warm winter had a negative impact on the revenues because less electricity was used. „At the same time it is important to notice that the weather conditions in Estonia in the the first and fourth quarter of the year cause increased electricity consumption and it also affects Elering’s financial results,“ Soone added.

Elering is the independent and autonomous Transmission System Operator for Estonia, whose main duty is to ensure high-quality supplies of electricity to consumers at all times. To achieve security of supply, Elering maintains and develops the national transmission grid and international interconnections. Elering controls the Estonian electricity system in real time, ensuring the operation of the transmission network, and the balance between production and consumption.

For more about Elering’s financial results for the fourth quarter, see here.

Elering’s 2011 audited annual report will be published by 23 April 2012.